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Pure Storage Stock Soars on Higher Subscription Revenue
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Main points
- Subscription revenue grew 22%, boosting Pure Storage’s performance and sending its stock price soaring.
- The data storage provider beat analysts’ adjusted earnings per share and revenue estimates.
- Pure Storage raised its full-year revenue guidance.
Pure Storage shares (PSTG) shares soared more than 20% a day after the data storage provider beat profit and sales estimates on Wednesday and raised guidance for subscription revenue.
Pure Storage reports adjusted third-quarter fiscal 2025 results Earnings per share (EPS) $0.50, with revenue up 9% year over year to $831.1 million. Analysts polled by Visible Alpha expected selling prices of $0.42 and $814.9 million, respectively.
Subscription services revenue increased 22% to $376.3 million Subscription services revenue increased 22% to $376.3 million Annual Recurring Revenue (ARR) It also grew 22% to $1.6 billion.
CFO says ‘continued strength of our business model’
Chief Financial Officer (CFO) Kevan Krysler said the quarter’s “revenue and operating income exceeded our expectations, demonstrating the continued strength of our business model.”
The company now expects full-year revenue of $3.15 billion, up from its previous forecast of $3.10 billion.
Pure Storage shares have risen 80% this year.
trading view
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